Cooloola Cove home sells for $680,000
As demand for property in the Gympie region continues to go “nuts,” this week’s sale of a four-bedroom home has beaten that suburb’s previously held record by $65,000
Gympie
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The sale of a property at Cooloola Cove for $680,000 this month has obliterated the record price set for a similar property in that suburb.
The previous record of $615,000 was officially broken when the four-bedroom home in Nina Court settled on Monday, May 17.
Century 21 Tin Can Bay sales and marketing consultant Paul Downman sold the home at 6 Nina Court to a couple in their 40s who are relocating from the Gold Coast to open a barber shop business in Rainbow Beach.
The four-bedroom, one-level home on 3443sqm of land featured an inground pool, 3400m2 of living area in a cul-de-sac about three minutes drive to the Cooloola Sands Shopping Centre and eight minutes from Tin Can Bay.
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Mr Downman specialises in property sale in Tin Can Bay, Cooloola Cove, Wallu and to a lesser extent Rainbow Beach.
He described the demand from buyers over the last six months as “nuts”.
“Nothing lasts (on the market) more than two weeks,” he said.
Some properties are selling the same day they hit the market - three in the past two months - and for prices 25-30 per cent more than they would have fetched 12-15 months ago.
“Properties that sold for $325,000 12-15 months ago are now selling for $450,000,” Mr Downman said.
Most inquiries are coming from people living on the Sunshine Coast, Gold Coast, Brisbane and Northern Rivers; a few also from Victoria.
With only 39 properties (houses, units and vacant land) for sale in Tin Can Bay, Cooloola Cove and Wallu, it is definitely a seller’s market.
Mr Downman said local builders were flat out, and anyone wanting to get a house built had to wait one to two months for roof trusses because of a timber shortage.
He has been so busy he has put on another agent to handle property sales between Tin Can Bay and Maryborough. Sales in those communities are also going gangbusters.
Real estate sales throughout most of the region continue to boom as population growth continues and people seek an alternative lifestyle to the cities and southern states.
According to the Australian Bureau of Statistics, Gympie South‘s population grew by 2.7 per cent over the past 12 months — more than any of the capital cities.
The rental vacancy in Gympie for the first quarter of 2021 was at 0.4 per cent.
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